EDWARD SMART CHARITABLE TRUST
REGISTERED CHARITY NO: 1126892
ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2023
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||Page|
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|Trustees’Report|1-3|
|IndependentExaminer'sReport|4|
|StatementofFinancialActivities|5|
|Balancesheet|6|
|NotestotheFinancialStatements|7-12|
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|CharityName||TheEdwardSmartCharitableTrust|
|---|---|---|
|RegisteredCharityNo||1126892|
|GoverningInstrument|-|WillofEdwardKennethSmart,whodiedon13July2007|
|Trustees||MrDavidSwanson|
|||SGKleinwortHambrosTrustCompany(UK)Limited|
|DirectorsofSGKleinwortHambros||Rachellles|
|TrustCompany(UK)Ltd||GeorgeRyan|
|||DavidBromley|
|||DelythRichards|
|PrincipalOffice||OneBankStreet,CanaryWharf,LondonE144SG|
|BankersandInvestmentManagers||SGKleinwortHambrosTrustCompany(UK)Limited|
|||OneBankStreet,CanaryWharf,LondonE144SG|
|IndependentExaminers||SamanthaRouseFCCADChA,KrestonReevesLLP|
|||37StMargaret'sStreet,Canterbury,KentCT12TU|
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||Note|Unrestricted|Expendable|Expendable|Total|Total|
|---|---|---|---|---|---|---|
|||Fund|Endowment||2023|2022|
|||£||£|£|£|
|IncomeandEndowments|||||||
|Investments:|||||||
|InvestmentIncome|2|37,029.99||-|37,029.99|34,990.12|
|TotalIncomeandEndowments||37,029.99||-|37,029.99|34,990.12|
|Expenditure|||||||
|Costofraisingfunds:|||||||
|SGKHInvestment||;|||||
|ManagementFee|5|-||17,437.20|17,437.20|18,739.70|
|Expenditureoncharitableactivities:|||||||
|Donations|3|10,882.95||-|10,882.95|31,541.43|
|SupportCosts|6|4,160.00||13,320.00|17,480.00|15,174.00|
|TotalExpenditure||(15,042.95)||(30,757.20)|(45,800.15)|(65,455.13)|
|NetExpenditure||21,987.04||(30,757.20)|(8,770.16)|(30,465.01)|
|Transferbetweenfunds||(21,987.04)||21,987.04|-|=|
|Expenditurebeforegains/(losses)on||-||(8,770.16)|(8,770.16)|(30,465.01)|
|investments|||||||
|Gains/(Losses)onInvestments|||||||
|Realised(Losses)/Gains|7|-||(16,854.38)|(16,854.38)|21,084.81|
|Unrealised(Losses)/Gains|7|-||(75,979.71)|(75,979.71)|24,671.10|
|Profit/(Losses)onForeignExchange||-||126.86|126.86|(165.41)|
|||-||(92,707.23)|(92,707.23)|45,590.50|
|NetMovementinFundsintheYear||-||(101,477.39)|(101,477.39)|15,125.49|
|Funds|||||||
|At5April2022||-||1,042,881.49|1,042,881.49|1,027,756.00|
|NetMovementofResourcesintheYear||-|||(101,477.39)|(101,477.39)|15,125.49|
|At5April2023||-||941,404.10|941,404.10|1,042,881.49|
|Alloperationsarecontinuing.|||||||
|TheStatementofFinancialActivitiesincludes||allgains and losses||recognisedintheyear.|||
|Allincomeandexpenditurederivesfrom|continuingactivities.||||||
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||Note||2023||2022|
|---|---|---|---|---|---|
|||£|£|£|£|
|FixedAssets||||||
|Investments|||931,734.91||1,053,052.79|
|CurrentAssets||||||
|Debtors||411.08||163.42||
|CashatBank||30,453.12||9,386.46||
|||30,864.20||9,549.88||
|CurrentLiabilities||||||
|Creditors,amountsfallingdue||||||
|withinoneyear||21,195.01||19,721.18||
|NetCurrentAssets|||9,669.19||(10,171.30)|
|AssetslessCurrentLiabilities|||941,404.10||1,042,881.49|
|CapitalFund||||||
|ExpendableEndowment|12||941,404.10||1,042,881.49|
|IncomeFund||||||
|UnrestrictedFund|12|||||
||||941,404.10||1,042,881.49|
|a|Digitallysigned
byBradley
WALDEN
Date:2024.01.26|Casa|Digitallysigned
byScottRICE
Date:
2024.01.26|
|---|---|---|---|
||09:08:48Z||11:53:56Z|
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|4|SupportCosts|||
|---|---|---|---|
|||2023|2022|
|||£|£|
||CorporateTrustee's Fee|13,320.00|13,320.00|
|||13,320.00|13,320.00|
|5|RaisingFunds|||
||SGKleinwortHambrosInvestmentManagementFees|17,437.20|18,739.70|
|||17,437.20|18,739.70|
|6|GovernanceCosts|||
||Independent Examination|1,860.00|1,800.00|
||PriorYearIndependentExaminationAdjustment|-|54.00|
||BDOLLP|2,300.00|-|
|||4,160.00|1,854.00|
|7|Investments|||
|||2023|2022|
|||£|£|
||MarketValueBroughtForward|990,305.48|1,023,746.48|
||Purchases|404,960.61|268,624.02|
||Disposals|(405,901.52)|(347,820.93)|
|||989,364.57|944,549.57|
||Realised(Losses)/Gains|(16,854.38)|21,084.81|
||Unrealised(Losses)/Gains|(75,979.71)|24,671.10|
||Market Value|896,530.48|990,305.48|
||CashonSGKleinwortHambrosAccount|35,204.43|62,747.31|
||TotalInvestments|931,734.91|1,053,052.79|
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|8|Debtors|2023|2022|
|---|---|---|---|
|||£|£|
||TaxRepaymentDue-HMRevenue&Customs|411.08|163.42|
|||411.08|163.42|
|9|Creditors,amountsfallingduewithinoneyear|2023|2022|
|||£|£|
||SGKHTrusteeFees|13,320.00|13,320.00|
||IndependentExaminer'sfees|3,660.00|1,800.00|
||SGKHBankLimited|4,215.01|4,601.18|
|||21,195.01|19,721.18|
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|11ComparativeStatementofFinancialActivities|||||
|---|---|---|---|---|
||Unrestricted||Expendable|Total|
|||Fund|Endowment|2022|
|||£|£|£|
|IncomeandEndowments|||||
|Investments:|||||
|InvestmentIncome||34,990.12|-|34,990.12|
|TotalIncome
;||34,990.12|-|34,990.12|
|Expenditure|||||
|Costofraisingfunds:|||||
|SGKHInvestment|||||
|ManagementFee||-|(18,739.70)|(18,739.70)|
|Expenditureoncharitableactivities:|||||
|Donations||(31,541.43)|-|(31,541.43)|
|SupportCosts||(1,854.00)|(13,320.00)|(15,174.00)|
|TotalExpenditure||(33,395.43)|(32,059.70)|(65,455.13)|
|NetExpenditurebeforegainsoninvestments||1,594.69|(32,059.70)|(30,465.01)|
|Netgains/(losses)oninvestments||-|21,084.81|21,084.81|
|UnrealisedGains||-|24,671.10|24,671.10|
|Foreignexchange(loss)||-|(165.41)|(165.41)|
|NetExpenditure|-|1,594.69|13,530.80|15,125.49|
|Transferbetweenfunds||(1,594.69)|1,594.69|-|
|NetMovementinFundsintheYear||-|15,125.49|15,125.49|
|Funds|||||
|At5April2021||-|1,027,756.00|1,027,756.00|
|NetMovementofResourcesintheYear||-|15,125.49|15,125.49|
|At5April2022||=|1,042,881.49|1,042,881.49|
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|12|AnalysisofNetAssetsBetweenFunds|Unrestricted|Expendable||Total|
|---|---|---|---|---|---|
|||Fund|Endowment|||
||||Fund|||
||2023|£|£||£|
||Investments|-|931,734.91||931,734.91|
||Currentassets|3,660.00|27,204.20||30,864.20|
||Currentliabilities|(3,660.00)|
(17,535.01)||(21,195.01)|
|||-|941,404.10||941,404.10|
||2022|£|£||£|
||Investments|-|1,053,052.79|||1,053,052.79|
||Currentassets|1,800.00|7,749.88||9,549.88|
||Currentliabilities|(1,800.00)|
(17,921.18)||(19,721.18)|
|||-|1,042,881.49||1,042,881.49|